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Industrial Wireless Transmitter Market - Growth, Trends, Covid-19 Impact, And Forecasts (2021 - 2026

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By Author: Statzy Market Research
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With the advent of Industry 4.0 policies, wireless sensing and IoT solutions are increasingly being used worldwide in several industrial applications. Many modern manufacturers believe that wireless solutions are one of the best technology adoptions in the manufacturing space and establishments in the past decade and provide vast scope for increased adoption.

Products, such as WirelessHART (FieldComm Group) are increasingly being adopted for connecting instrumentation to control and monitoring systems in the process industries. Critically rising demand for predictive analytics solutions, such as predictive maintenance, etc., are identified to be the dominant reason for the growth of the wireless solutions in manufacturing establishments. Such high usage of wireless solutions in several end-user verticals is creating a huge demand for industrial wireless transmitters.

- One of the primary reasons that are encouraging the mass installations of the wireless solutions is its low cost of wireless solutions and supporting equipment, like transmitters. In comparison, it is estimated that a wireless transmitter system ...
... can be installed and connected to an industrial control system, for about one-fifth to one-third of the costs required to procure and install a wired transmitter.

- The attributes of low cost and simple installation help wireless solutions to fulfill the needs of plants to optimize operations, save energy, increase efficiency, and reduce maintenance costs. But, like any other solution, wireless technology also suffers certain drawbacks. Security issues are the most common drawback that any wireless network can face.

- In the advanced manufacturing economies, such as United States, China, and Japan, wireless technologies face severe security issues. When wireless networks are breached, attackers can gain access to the control systems, which could cause immense damage to the company's production schedules.

Key Market Trends

Energy and Power is expected to hold a Significant Share

- Energy & power industry is one of the largest end-user segment for industrial wireless transmitters. The major reason for using wireless transmitters in the industry is due to high rate of deployment of wireless solutions, like wireless sensor networks (WSN), etc., due to several safety standards and easy installation, even at places that are hard to access.

- In case of power & energy industry, many types of equipment, such as steam traps, heat exchangers, pumps, compressors, and pressure relief valves which were hard to monitor and often expensive using wired technology, can now be fitted with wireless transmitters for monitoring and maintenance purposes.

- In recent times, due to several environmental concerns, there has been a considerable shift in the power generation practices of several countries, especially in North America and Europe. The number of nuclear and thermal power plants are gradually coming down, as they are replaced with plants operating on natural gas.

- The United States has increased its gas-fired power by more than 40% between 2010 and 2018. Further new projects are also being introduced in the country to replace the coal and oil powered electricity generation with natural gas power plants, which create a huge demand for wireless transmitters, especially pressure and temperature transmitters.

North America is Expected to Hold a Major Share

- The high manufacturing activity in North America, which accounts for more than 23% of the region's gross domestic product (GDP), is the major driver of demand for wireless transmitters. The region has a definite outlook form almost all the end-user verticals. Energy and power, and industrial automation stand to be the major source of demand for industrial grade wireless transmitters in the region.

- Stringent safety regulations in the country and a high degree of manufacturing are expected to influence the wireless transmitter's market. According to the estimates of Observatory of Economic Complexity, the United States and Canada are the second largest and twelfth largest export economies in the world with over 189 industrial robots per every 1000 workers on an average.

Competitive Landscape

The industrial wireless transmitter market is highly competitive and consists of several major players. Many of the companies are increasing their market presence by securing new contracts and introducing new products or services. For instance, in 2018, Honeywell launched the SmartLine wireless pressure transmitter, which offers a scalable, flexible and secure solution for pressure monitoring and control when combined with the company's robust wireless network technology.

- February 2018 - Honeywell has announced a new solution for real-time safety monitoring of workers in plant and remote operations. The solution integrates data from wearable gas detectors to the company's Experion Process Knowledge System, in order to alert authorities during emergency situations.

- November 2018 - Siemens has announced that they have formed an alliance with Aruba, a Hewlett Packard Enterprise company, for developing advanced integrated networks. Reportedly, the project includes development of wired and wireless networking products and related software that can be implemented via several channels.

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StatzyReports is the premier global market research and business reports company based in India. StatzyReports.com functions under Statzy Market Research. We offer our expertise globally in services related to market research, business strategy consulting, surveys or questionnaire, forecast and statistical data analysis. Our experience working with major business and customer driven companies enabled us to develop some of the best winning strategies for succeeding in various global markets. Our globally renowned experts mastered the art of perfection with their unique skillset and vast experience in research and data analytics.

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